Alphabet, Apple, Amazon, Microsoft and Facebook have collectively lost €1.3 trillion in value in the past month as markets tremble under pressure from the coronavirus epidemic. Facebook had the biggest crisis, losing 29,63% of its value, while Amazon's losses were limited to 13,33%, isolated by a slight increase in e-commerce activity. The broader S&P Index, made up of 500 of America's largest companies, fell 29% in the same period, wreaking havoc on equity portfolios and pension funds around the world.
Coronavirus Stock Market Crash
The rapid spread of the coronavirus, now classified as a pandemic by the World Health Organization, has rocked markets around the world. Analysts fear that the economic crisis caused by the epidemic will lead to a global recession. Bank of America officials have even said that the recession has already arrived. Last week, the British and US indices fell 10% on the worst day since the 1987 crash, while the French and German equivalents fell 12%. The decline came after the United States placed restrictions on travel from mainland Europe and then the United Kingdom. Supply chain disruptions, store closures and job losses among consumers are likely to hit tech sector revenue. Last month, Apple and Microsoft announced that they expect to miss quarterly revenue targets due to the virus. Despite the bleak near-term outlook, global tech giants are seen as well positioned to bounce back from the downturn, though the same cannot be said for smaller players. Via CNBC